Barclays Forecasts Strong Price Appreciation for Insmed (NASDAQ:INSM) Stock

Insmed (NASDAQ:INSM) had its price target lifted by investment analysts at Barclays from $231.00 to $237.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s price objective would indicate a potential upside of 44.10% from the stock’s current price.

INSM has been the subject of a number of other reports. Royal Bank Of Canada boosted their target price on Insmed from $197.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. The Goldman Sachs Group raised their price objective on Insmed from $225.00 to $258.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Morgan Stanley upgraded Insmed from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $166.00 to $212.00 in a report on Monday. Truist Financial set a $205.00 target price on Insmed in a report on Monday, January 12th. Finally, Guggenheim reduced their price target on shares of Insmed from $230.00 to $221.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $212.67.

Insmed Stock Up 0.6%

NASDAQ:INSM traded up $0.95 during trading hours on Wednesday, reaching $164.47. The company had a trading volume of 1,336,291 shares, compared to its average volume of 2,541,482. The company has a quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76. The firm has a market cap of $35.45 billion, a price-to-earnings ratio of -25.65 and a beta of 1.13. The business’s 50-day simple moving average is $149.97 and its two-hundred day simple moving average is $166.42. Insmed has a twelve month low of $60.40 and a twelve month high of $212.75.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The company had revenue of $263.84 million for the quarter, compared to analyst estimates of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. Insmed’s revenue for the quarter was up 152.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.32) EPS. On average, equities analysts expect that Insmed will post -4.56 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Roger Adsett sold 791 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $156.17, for a total value of $123,530.47. Following the completion of the sale, the chief operating officer directly owned 106,810 shares of the company’s stock, valued at $16,680,517.70. This represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sara Bonstein sold 748 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $156.34, for a total value of $116,942.32. Following the completion of the transaction, the chief financial officer owned 79,758 shares in the company, valued at $12,469,365.72. This represents a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 189,651 shares of company stock valued at $31,533,654. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Insmed

A number of hedge funds have recently bought and sold shares of the company. EULAV Asset Management bought a new position in shares of Insmed during the 3rd quarter worth approximately $12,961,000. Resolute Capital Asset Partners LLC bought a new position in shares of Insmed in the second quarter valued at approximately $2,748,000. Artisan Partners Limited Partnership increased its position in shares of Insmed by 49.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after acquiring an additional 1,623,342 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Insmed by 374.6% during the third quarter. Nisa Investment Advisors LLC now owns 10,466 shares of the biopharmaceutical company’s stock valued at $1,507,000 after acquiring an additional 8,261 shares during the last quarter. Finally, Atika Capital Management LLC bought a new stake in Insmed during the third quarter worth $13,681,000.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.